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Gold price achieves strong gains – Analysis - 04-03-2024
Gold price ended last Friday with strong positivity, and approached our second waited target at 2095.00, and we suggest the continuation of the positive trades affected by the previously completed inverted head and shoulders’ pattern, to achieve additional gains that reach the historical high recorded at 2144.60.
Therefore, the bullish trend will remain valid and active in the upcoming sessions, supported by the EMA50 that carries the price from below, noting that breaking 2065.70 will stop the bullish rally and push the price to achieve some bearish correction.
The expected trading range for today is between 2070.00 support and 2100.00 resistance.
The expected trend for today: Bullish
The USDCAD hits the first target – Analysis - 04-03-2024
The USDCAD pair managed to touch our first target at 1.3600 and bounced downwards temporarily to test 1.3550 barrier, noticing that the EMA50 provides the positive support to the price and carries it from below, while stochastic gains the positive momentum clearly and approaches to overlap positively now.
MoreThe USDJPY within sideways track – Analysis - 04-03-2024
The USDJPY pair shows sideways trades as appears on the chart, between 149.70 support and 150.88 resistance, to keep our neutrality valid until now, as we are waiting to surpass one of these levels to detect the next targets clearly.
MoreThe GBPUSD attacks the resistance - Analysis - 04-03-2024
The GBPUSD pair ended last Friday positively, as it attacked the key resistance 1.2650 and settled there, to hint heading to regain the main bullish trend again, especially that the recent trades are confined within minor bearish channel that might form bullish flag pattern in case breaching its resistance at 1.2670, which might push the price to achieve gains that start at 1.2760 followed by 1.2827.
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